XRP Army Alert: Ripple’s Wedge Pattern Indicates a Big Move Forward

XRP Army Alert: Ripple’s Wedge Pattern Indicates a Big Move Forward

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XRP is trading near $2.53 as analysts track a wedge pattern with breakout potential. Whale activity, support zones and partnerships in focus.

XRP is trading in a tight range after a recent pullback as traders wait to see which direction the next breakout will take.

At the time of writing, the token is priced at $2.53, up 2% in the past 24 hours, but still down 12% in the past week, based on CoinGecko’s data.

Pattern suggests two possible scenarios

Crypto analyst EGRAG CRYPTO be to a falling widening wedge on the map. Based on this structure, there is a 57% chance of a breakout to the upside and a 43% chance of a move to the downside.

Source: EGRAG CRYPTO/X

If the lower outcome materializes, EGRAG mentioned a possible retest of the $0.50 area based on measured movement projections. On the other hand, a successful break above could take the price towards the $9 region.

They also referenced previous trades where some sold between $2.70 and $2.80, and XRP is now near $2.50 to $2.60. EGRAG noted,

“If you want to sell now, go ahead, no hard feelings… Don’t come back to me later and say you wish you had sold.”

The long-term structure still holds

Analyst ChartingGuy shared a monthly chart showing XRP still trading above the $1.61 support. This level corresponds to the Fibonacci retracement of 0.786 and a former resistance zone from 2021. While Ripple’s token recently failed to hold above $3.31, the Fibonacci level of 0.886, it continues to print higher lows.

Notably, the same chart shows potential future levels around $3.31, $8, $13 and $27, based on standard Fibonacci extensions. These levels can act as price targets if XRP maintains its current structure. Referring to the larger time frame, ChartingGuy said:

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Whale activity linked to October decline

As reported by CryptoPotatoMajor wallets started moving XRP to Binance in the first half of October. This followed a quiet period in September. The timing of these transfers corresponded to a 20% price drop, adding to the pressure during the decline.

Meanwhile, open interest in XRP futures fell sharply from $9 billion to around $4.17 billion. The move came as broader crypto markets saw forced sales and deleveraging of several major tokens.

Partnership announcement supports sentiment

Ripple confirmed a new partnership with Immunefi and launched a security testing program for the XRP Ledger. The test includes a $200,000 bug bounty, which runs from October 27 to November 24.

This announcement came as XRP slid through key levels, delivering a short-term boost in sentiment. Traders are now keeping a close eye on price levels as the wedge pattern approaches a potential breakout point.

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